Luxury residential tower with 24 stories, retail space breaks ground near downtown Phoenix Article originally posted on KTAR News on May 22, 2026 A 24-story tower in central Phoenix offering luxury residences and retail broke ground Thursday, project officials announced. The tower, known as The Whitney, will include 328 residential units featuring vinyl plank flooring, tiled bathrooms and walk-in showers. Building amenities will include a fitness center and a rooftop pickleball court. The $131.2 million development also includes more than 22,000 square feet of retail space, which will be leased by Diversified Partners. “We’re creating a dynamic, mixed-use destination that puts tenants in front of a built-in customer base while offering the visibility, accessibility and energy today’s operators need to succeed,” Marti Weinstein, a partner of Diversified Partners, said in a release. “We’re offering retailers and restaurateurs an opportunity to grow alongside a vibrant and evolving neighborhood.” The Whitney is located on the southwest corner of Central Avenue and McDowell Road, north of Interstate 10. The project was financed by Axos Bank and Lionheart Strategic Management & Schroders Capital, which provided loans of $84.7 million and $46.5 million, respectively.